By OMSOFTWARE - Web & Mobile App Development Company | Pune
May 18 , 2017
We will start with one of the increasingly popular but highly challenging medium to monetize a dating application - Pay to Download.
It refers to downloading an application after paying a certain fee. The best thing about this monetization model is it brings a certain degree of predictable result. If your marketing is done well for social dating app and if your app is targeted at the right customer at the right time; you can easily earn some good amount of money.
But this model is extremely unpredictable in the fact that when 90 percent of applications are freely available on the Internet, why would someone pay to download one? That’s why in order to make such a monetization model popular you should devise a very intelligent marketing strategy.
Next on our list is an effective monetization model - advertisement. This model is all about giving users almost all the benefits of a paid service but in lieu supplying their feed with advertisements. This tactic works when you have a steady base of dedicated audience and they are massive in number.
An advertisement can be of many types; including but not limited to Banner Ads, Interstitials, Video Ads, Text Ads, Native Ads, Offer Wall Ads etc. As we mentioned earlier, the only way to gain momentum from this defined type of monetization model is to have a massive number of subscribers.
Freemium model of monetization refers to rewarding users a trial version of an application before they pay to buy the premium version. It can also be rewarding users to use the premium version for a limited time before they pay to keep on using the complete version. This model is one of the most popular forms of monetization for dating apps and is thoughtfully balanced and genuinely practical in the sense that when a user finds a product or service good and worthwhile; they are tempted to use it for longer.
For social dating apps, one of the useful technique to lure targeted audience is to initiate subscription model.
In simple terms, it means asking subscribers to pay for certain usage of the product for a specific time frame. The subscription could be in monthly, yearly or other time bound model. It is another practical approach to monetize a dating app. It is helpful in the fact that as long as a user finds the app useful, he or she will continue using and then stop using it when it does not mean any value.
To monetize a dating app, you can also use sponsorship monetization. You can tie up with companies that deal in dating and relationship business. They will publish and promote their product on your app and in return offer you certain specific amount of money. This monetization technique is good in the fact that it helps you reach targeted customers easily, and you need not to worry about any retention since advertisers will keep coming in, however only if the app is good enough to have a massive user base. This then again needs a great marketing plan.
Gift and tangible services monetization is yet another technique to start earning some money from your social dating app. You can connect people and at the same time, help them with dating in real life; such as helping them organize gifts and tangible services.